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Provisions

12 Months Ended

Mar. 31, 2022

14. Provisions


	At March 31,
	2022	2021	2020
	€M	€M	€M
Provision for aircraft maintenance on leased aircraft (a)	98.8	53.2	75.4
Provision for pension obligation (b)	4.5	4.5	4.5
	103.3	57.7	79.9



	At March 31,
	2022	2021	2020
(a) Provision for aircraft maintenance on leased aircraft	€M	€M	€M
At beginning of year	53.2	75.4	130.7
Increase in provision during the year	55.6	37.3	23.2
Utilization of provision upon the hand-back of aircraft	(10.0)	(59.5)	(78.5)
At end of year	98.8	53.2	75.4

During fiscal year 2022, the Company returned 3 Boeing 737 (2021: 11) aircraft held under lease to the lessors.

The expected timing of the outflows of economic benefits associated with the provision at March 31, 2022, 2021 and 2020 are as follows:

Carrying

Value

2023

2024

2025

2026

Thereafter

€M

At March 31, 2022

Provision for leased aircraft maintenance

98.8

9.2

23.3

56.7

9.6

—

Carrying

Value

2022

2023

2024

2025

Thereafter

€M

At March 31, 2021

Provision for leased aircraft maintenance

53.2

10.3

4.1

11.5

24.3

3.0

Carrying

Value

2021

2022

2023

2024

Thereafter

€M

At March 31, 2020

Provision for leased aircraft maintenance

75.4

43.3

12.1

3.2

5.9

10.9



	At March 31,
	2022	2021	2020
(b) Provision for pension obligation	€M	€M	€M
At beginning of year	4.5	4.5	4.9
Movement during the year	—	—	(0.4)
At end of year	4.5	4.5	4.5

See Note 21 to the consolidated financial statements for further details.